Marks Group Wealth Management Inc Has $8.58 Million Holdings in ITT Inc. (NYSE:ITT)

Marks Group Wealth Management Inc decreased its stake in shares of ITT Inc. (NYSE:ITT) by 3.8% in the 4th quarter, Holdings Channel reports. The fund owned 71,943 shares of the conglomerate’s stock after selling 2,879 shares during the quarter. ITT accounts for approximately 1.0% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 16th biggest position. Marks Group Wealth Management Inc’s holdings in ITT were worth $8,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of ITT by 1.9% during the 3rd quarter. FMR LLC now owns 7,581,649 shares of the conglomerate’s stock worth $742,319,000 after purchasing an additional 144,394 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of ITT by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,732,008 shares of the conglomerate’s stock worth $169,581,000 after purchasing an additional 5,495 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of ITT by 1.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,354,082 shares of the conglomerate’s stock valued at $132,581,000 after purchasing an additional 14,857 shares during the period. Invesco Ltd. boosted its position in ITT by 46.6% during the third quarter. Invesco Ltd. now owns 614,131 shares of the conglomerate’s stock worth $60,130,000 after purchasing an additional 195,111 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of ITT by 7.2% in the third quarter. Westfield Capital Management Co. LP now owns 602,444 shares of the conglomerate’s stock valued at $58,985,000 after purchasing an additional 40,612 shares during the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.

ITT Trading Up 0.6 %

ITT stock traded up $0.79 during midday trading on Monday, reaching $125.75. The company’s stock had a trading volume of 241,838 shares, compared to its average volume of 356,227. The stock has a market cap of $10.34 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. ITT Inc. has a 52 week low of $75.82 and a 52 week high of $138.29. The business has a 50-day moving average price of $128.37 and a 200-day moving average price of $116.89.

ITT (NYSE:ITT) last announced its quarterly earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. ITT had a net margin of 12.50% and a return on equity of 17.91%. The company had revenue of $829.10 million for the quarter, compared to analyst estimates of $814.38 million. During the same period in the previous year, the firm posted $1.29 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that ITT Inc. will post 5.8 EPS for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.319 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from ITT’s previous quarterly dividend of $0.29. ITT’s dividend payout ratio is presently 25.81%.

Analyst Upgrades and Downgrades

ITT has been the subject of a number of research reports. KeyCorp lifted their target price on ITT from $136.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. StockNews.com cut shares of ITT from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 6th. DA Davidson raised their target price on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Citigroup raised their price target on ITT from $139.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on shares of ITT from $141.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $135.57.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.